Saudi Arabia Is ‘In The Hunt’ To Buy WWE

Vince McMahon’s unexpected return to WWE turned the future of the company upside down. WWE shareholders are wondering not just whether McMahon and the company can execute a sale but also whether the buyer will be Saudi Arabia. It has now been reported that Saudi Arabia is actually on the hunt to buy WWE.

Wrestling Observer Radio’s Dave Meltzer has provided the latest details on the status of a WWE sale to the Saudi Arabian Public Investment Fund. Meltzer revealed that he had a “long conversation” with WWE workers last night. He claimed that WWE is not for sale and that Saudi Arabia is on the hunt.

They’re not sold. Saudi Arabia is in the hunt. They’re one of the companies, one of the places that’s looking for it… several media companies, the names that are out there are all in the hunt.

The news of WWE being sold to Saudi Arabia made headlines a few days ago. However, the current assumption is that nothing official has been announced yet. On January 6, Vince McMahon used his majority ownership to re-appoint himself and former WWE presidents George Barrios and Michelle Wilson to the company’s Board of Directors, removing JoEllen Lyons Dillon, Jeffrey R Speed, and Alan M Wexler.

McMahon indicated that his goal was to facilitate the sale of the company. He amended the bylaws such that no sale or media rights deal could take place without his approval. Following McMahon’s return, two more Board members left on their own accord: Man Jit Singh, who was in charge of the Board’s investigation into McMahon, and Ignace Lahoud.

On January 10, Stephanie McMahon resigned as co-CEO and Chairwoman, as well as her seat on the Board, while Vince McMahon was named Executive Chairman. There has been widespread speculation that Vince McMahon is trying to sell to a party that would commit to keeping him in charge of the company despite the multiple allegations of sexual assault.

As previously reported, WWE is planning to sell the company by the middle of the year. It’s crucial to make clear that there has not been an official announcement regarding a sale to Saudi Arabia yet. To get the latest updates, keep an eye on Thirsty.

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